The Graystone Company (OTCQB: GYST) Boosts Its Margins by Selling to Retail
27 Giugno 2012 - 12:56AM
Marketwired
The Graystone Company (OTCQB: GYST) (PINKSHEETS: GYST), a
U.S.-based mining and exploration company focused on acquiring and
developing gold and other mineral properties, has announced that
they have sold nearly 100 ounces of gold and silver directly to
consumers and jewelers, helping boost their profit margins by
15-20%.
Selling gold and silver through its retail division allows the
company to increase its margins by 15-20%. Junior mining companies
typically sell their ore to refineries for 5-7% below spot price.
However, by selling the gold and silver retail the Company can sell
the gold and other precious metals for 10-15% over spot. The
Company expects to add an additional $200,000 to their annual sales
by year end.
In a Wall Street Journal article yesterday, gold prices are
expected to stabilize due to India's gold demand reviving after a
prolonged slump. "Gold demand could be anywhere between 750 and 800
metric tons this year," Bombay Bullion Association President
Prithviraj Kothari stated. Increased demand from the world's number
two gold consumer could help gold exploration and mining companies
like Graystone, AuRico Gold (NYSE: AUQ), New Gold (NYSE Amex: NGD)
and Brigus Gold (NYSE Amex: BRD).
To read more on Graystone, please visit www.graystone1.com
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